Machinary purchased in 19-20 but put to use in 20-21. Can additional Depreciation be claimed on such Machinary? Is "put to use" also a condition for claim of additional Depreciation
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Quick Summary
This discussion clarifies whether additional depreciation can be claimed on machinery acquired in the 19-20 financial year but only put into use during 20-21. The consensus is that additional depreciation at 20% can indeed be claimed. The crucial factor is when the machinery was 'put to use', and the claim should be made in the financial year it commenced operation, which is 20-21 in this case.